Press Release Detail

Reducing CRR, SLR, repo and reverse repo rates will address the liquidity church for the industry to a large extent: TPCI

Press Release:

Reducing CRR, SLR, repo and reverse repo rates will address the liquidity church for the industry to a large extent: TPCI

– 3 months moratorium of term loan will boost consumer confidence

New Delhi, 27th March, 2020: Commenting on the RBI renouncement today Chairman TPCI, Mohit Singla said, “The measures announced by the RBI is reflective of the India’s resolve to fight the global pandemic while mitigating the impact on the economy, which is crucial for sustaining growth in this pressing times.”

Further Chairman TPCI said, “Cutting CRR, SLR, repo and reverse repo rates is clear cut steps which will address the liquidity concern of the industry to a larger extent and will go a long run to maintain financial stability and revive growth. Also, reducing the CRR daily maintenance level for to 80 percent from 90 percent will give banks head rooms to lend to the business entities and address working capital need of industry.”

Singla highlighted that, “The three month moratorium on the term loan is a big breather for the consumers and will surely boost their confidence in this critical time.”

Industry appreciates efforts by RBI to keep a close watch on ongoing development and monitoring supply constraint including inflation. In this extraordinary times the industry must take advantage to pull the sentiments and boost consumer confidence as the RBI and government is working on the mission mode to help the industry, Chairman added.

For any further information, contact:

Sameer Pushp

DIRECTOR- MEDIA & CORPORATE COMMUNICATIONS
9, 2nd Floor, Scindia House, Connaught Circus,

New Delhi- 110001, India

T: (91) 11 40727281

M: (91) 9811229110

E:  sameer.pushp@tpci.in

W: www.tpci.in